Is the Dubai property market falling apart or finding a level?

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Catherine4u

New Member
hi all,i bought a unit in spain6,few years back,up to now i dont have any title deeds etc,even though its paid in full.i asked ary,they are blaming nakheel for not releasing the paper work,then i asked nakheel,they said ary has paid them by post dated chq which is not cashed yet,but refuse to give date?
any body out there knows the truth or where to go?thaks for all your help:
Well I can't guide you properly but I know a website you can visit it and ask question from the real estate experts of Dubai and UAE. the website is bayut.com... good luck.
 
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stumbled

New Member
I think this topic has gone the full circle.

The question to be asked is the falling rents, where will they stop? With demand dwindling, no job creation, the banking and finance sector expecting another recession in the west, companies holding onto cash and not creating new jobs and offshore sectors. Mortgages stopped or brought to a trickle in Dubai. Landlords are slashing rents, but tenants moving to better,newer and cheaper projects, this is bringing panic to landlords experiencing nulls for the first time. Null periods not only gives you zero rent it starts biting, cause you still have to pay maintenance/SQFT, charges for finding the tenant and of course not forgetting the loan on the property.

In this crisis only those people will come out laughing who have the least borrowing on their properties, the rest it's the ABYSS, WHERE OR WHEN THE SINKING WILL COME TO A STOP IS ANYONE'S GUESS!!....HOPE IS A GOOD THING,IT GIVES YOU THE SPIRIT TO LIVE ANOTHER DAY,But Closing one's eyes and believing it will soon PASS like a bad dream IN A SITUATION CALLED ''DUBAI'' is LIVING A NIGHTMARE.
 
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Egor

New Member
Dear all!:date: Give please, does the company «Smith & Ken»? What I mean? Can an investor without the help of this company to do the same job for yourself? Here's an example. I invested my money in a project which is being built. According to the contract, the project must be put into operation in June 2011. Of course project does not build at that time. Company «Smith & Ken» offers translate my money ready. The question is how they do it? Will I be able to do the same? And how to do it? I should be grateful for the good advice.:star:
 
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Salma Raul

New Member
Dubai property market is falling apart and thats true but finding a level to bring it back is not impossible. There could be lessons to be learnt for those property investors looking at still emerging markets.
 
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Egor

New Member
Dubai property market is falling apart and thats true but finding a level to bring it back is not impossible. There could be lessons to be learnt for those property investors looking at still emerging markets.
So what do you now need to lie down and die? :p Today, all markets throughout the world – due to the greed of bankers. But the money you save.:pepsi:
 
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georgihh

New Member
Dubai property market is falling apart and thats true but finding a level to bring it back is not impossible. There could be lessons to be learnt for those property investors looking at still emerging markets.
There is no level, the prices are going to fall down further more, not too much, but to the point where the locals will buy them back. Dubai is over and will never recover again. This place has his good time, but new generations is coming on the picture and they don’t give a **** about all the luxury buildings..
The world is changing and Dubai is changing, but after a year or two the world will pick up again, but Dubai will be a concrete in the desert. So sad, but this is the reality.
There is nothing left in Dubai anymore to attract the investors.
 
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Miley Tipton

New Member
Well I like to clear your ideas at this ... This is not the case with dubai only that no big money from RE and Stock market....It is the case with almost every country of the world.. Look at the US market... No one has come up completely from Recession...
 
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john23

New Member
I was considering Dubai now that the crisis seemed to be in recovery but if you pay attention to the mood in the country, even those at the top, its very pessimistic. This article has a quote from the royal family there http://www.realtyhavens.com/oversupply-in-dubai-property-as-prices-continue-to-fall/ quote from the prince Alwaleed Bin Talal Bin Abdulaziz Al Saud for those too lazy to read to the bottom:
‘There are new buildings coming out, I think we have not seen the bottom in real estate in Dubai, there are years to come. I don’t believe you are at the bottom yet because more supply is coming,’ he said.
 
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amplesou

Banned
I was considering Dubai now that the crisis seemed to be in recovery but if you pay attention to the mood in the country, even those at the top, its very pessimistic. This article has a quote from the royal family there http://www.realtyhavens.com/oversupply-in-dubai-property-as-prices-continue-to-fall/ quote from the prince Alwaleed Bin Talal Bin Abdulaziz Al Saud for those too lazy to read to the bottom:
‘There are new buildings coming out, I think we have not seen the bottom in real estate in Dubai, there are years to come. I don’t believe you are at the bottom yet because more supply is coming,’ he said.
Abu dhabi/saudia arabia has its own massive oversupply problem so may be this interview comment is maybe slightly impartial ?
 
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mortagage

New Member
I was under the impression that the Dubai dream is ending for many; but the colleagues and friends I have there seem to continue living to a high standard, albeit I don't believe so many are investing in real estate. But as discussed this is tru the world over.
 
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georgihh

New Member
I was under the impression that the Dubai dream is ending for many; but the colleagues and friends I have there seem to continue living to a high standard, albeit I don't believe so many are investing in real estate. But as discussed this is tru the world over.
Yes , people are making money in Dubai. There is business, but not enough for the buildings they built.
Dubai is growing slowly I say 5% a year. The inflation all over the world is building up.

Conclusion – in few years time your friends should invest the savings to protect against inflation. The Gold is overvalued big time already what has left – Dubai properties

:thrasher::thrasher:
 
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rkolinko

New Member
It was really interesting to read this thread from beginning. If someone has time to simply print all the pages analyse the information, and interpret in a graphical or written form - we can easily see what has exactly happened over past year and a half.

Some members on the website tried to stay positive and saying in mid of 2010 that by end of Q4 2010 the prices will rise again, it is clearly evident this is not happening, in fact its the opposite.

Some members also mentioned the word "recover" or "dubai will recover" - I am interested to understand what do you really mean ? are you implying the prices of real estate will go up to levels of mid 2008 ? or are you saying prices will stabilise ? 2 completely different things.

Whats more, when someone says "Dubai will succeed in recovering its real estate crisis and it's already striving hard for it" - so you are trying to say that Dubai will succeed in filling up all the apartments in Discover Gardens, Al Khail Gate, International City, Sports City, Motor City, DSO, JVT, JLT, DIP, All Villa projects.

We are talking about an inflow of huge amount of expatriates and even if this happens will the infrastructure be able to support this inflow?!! and even if it does where will they all work. This means that X number of jobs must be created- in turn this means that x number of businesses must open up and many huge companies - corporations are cutting down on costs and not running to open new offices in Dubai. Perhaps slowly but it will not be a boom. This all seems common sense.

Also, when someone says that things are getting better in R/E and prices are going up please do your research and not by looking at Gulf-News price listings or dubizzle- because they don't indicate the market value a property might have - they are simply a figure that a seller wants.

Based on research done by Landmark Advisory by 2012 the prices will further drop 15-20 % due to the additional supply of approximately 50,000 Units beginning of next year. More importantly I feel the prices will stabilise or reach the bottom at some point but it will definitely take time and an assumption can be made that it will not happen in the next year or so.


Cheers.

Rus

P.S. off the topic, As we move into 2011, I honestly wish everyone a more happier year.
 
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jozaf

New Member
jozaf

Nowadays dubai economy is in great difficulty property rate are very low because current recession. I hope that dubai economy again recover after a long run.:idea:
 
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rkolinko

New Member
Rental Homes Are Still In Demand

Dubai is passing through the phase of economic down break which has lowered the rates of property. Since last many years reports are showing that more people are interested in buying homes in Dubai. It is true that there is an increase in the number of people investing in Dubai property but at the same time rental homes are also in demand. There was a speculation which said that popularity of rentals will diminish in Dubai real estate market, but lower purchase value has not affected liking for the rentals.
It seems to be the question of affordability - the market values have dropped over two years but it doesn't mean that everybody will run to buy.

Expressing interest and actually buying in Dubai are two different things.

People will always rent in Dubai and rents haven't reached the bottom yet.
 
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shoeb

New Member
It can be happen to every part of the globe but this is also true some projects are blacklisted might be it effect other side of coin is that if you look sea view property at affordable prices then Dubai name is coming on first in mind and specially Palm Jumeirah area is more in demand
 
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2many

New Member
To me it looked like prices were still on the way down in Dubai but the brokers looked really busy showing properties. May be a good time to buy... certainly much better now than a couple of years ago...
Where would it be best to buy in Dubai if you wanted to do it now?
I spent 11 days there for Xmas and New year and liked it. It has advantages for me. Going back in february.

I understand that moving there is easy if you set up a company and hire yourself...
Where would if be best to live and buy a 2 bedroom, 1500 square feet or larger condo for about 400 thousand Euros, I like the beach, water sports, tennis and work online... also
Also.. where would you think it is best to buy studios or one bedroom condos to rent to tourists?
 
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Lee Curtis

New Member
Dubai - Falling? or stabilising?

I read a lot of posts and I speak to a lot of clients looking at the Dubai Property market. Has over saturation of property available really crippled this market? or do you think there are still buyers out there willing to take the risk? - It seems that most people I speak to are trying to get out of the Dubai market, developers not able to give back deposits and trying to switch buyers into different accommodation than what they bought - There seems to be massive discounts being offered from developers - is the market falling to reality or is it so completely crippled that developers cannot give the properties away. I always struggle to find who the end user is also, are the properties mainly aimed at the rental market, not sure it is a country I would invest in or go to.
 
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Lase_

New Member
RERA POLL

Do you feel safe / confident about your real estate investments in Dubai?
Poll Options No of Votes Percentage
1. Yes 54 14.56
2. No 317 85.44
The thing with this 'poll', is that you could conduct a poll asking a smiliar question anywhere in the world just about, and the statistics would be the same.

If you were to ask the same question to investors here in the UK, the outcome would be a near mirror reflection I'm sure.

The 'yes' people, will be those who have no debts in said properties, own them outright and will 'feel safe' till the cows come home.
 
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Allsopps

New Member
Dubai has certainly experienced testing times throughout the last couple of years, and looking back can say that we have all learnt a lot. That being said, I can see Dubai only going from strength to strength, for our business perspective we have experience genuine compound growth to as high as over 100% which is all relative to real estate activity in Dubai. The recent news of allowing 3-year visas for purchasers of property will also provide an appeal from overseas investors who haven't considered Dubai previously. The future in my opinion is certainly more optimistic, not to say we will every experience the heights of 2007/2008, but a more mature and sustainable property market.

Carl
 
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propertypalmjumeirah

New Member
The Market in Dubai is definatelt picking up but only on the prime location or the very low end properties as they give a very good rental yield.

The Markets are sorting itself out and prices are quite stable now and slowly going up.
 
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